Seeking measures to improve Vietnam’s “Starting a Business” index

Monday, 2020-01-06 17:04:54
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Minister and Chairman of the Government Office Mai Tien Dung speaking at the meeting. (Photo: VGP)
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NDO – The Government Office held a meeting at its headquarters on January 6 to discuss measures to improve Vietnam’s “Starting a Business” index under the Ease of Doing Business 2020 ranking released by the World Bank.

According to the ranking, Vietnam’s Starting a Business index in 2019 was ranked 115th out of 190 economies worldwide, down 11 places compared to the previous year.

The government has set a target of raising the index by 10 to 15 places during this year.

Minister and Chairman of the Government Office Mai Tien Dung said that the government and relevant agencies are determined to reduce administrative procedures related to Starting a Business from the current eight to four procedures in order to reduce time and costs for enterprises.

He noted that the Government Office will submit a decision on Starting a Business procedures to the Prime Minister to address the current shortcomings.

Many opinions proposed to abolish the regulations that enterprises registering for a business must carry out both online procedures and submit papers to the business registration agency.

They also suggested the removal of the regulation that enterprises must notify their seal samples to the business registration agency and propose the use of electronic signatures of the legal representatives instead.

Delegates also asked the Ministry of Finance to abolish the procedure regarding buying paper invoices and others.